Third party funding in investors’ filing ICSID cases has become an rising industry in Europe and USA. The lack of transparency in funding, the complicated relation network among funders and arbitrators, and the uncertainty in arbitral costs bearing wil encourage abuse of investment arbitration against host states, and harm the interests of host states as wel as the justification of interna-tional investment arbitration. To prevent this kind of abuse, funding agreements and investment treaty shal impose disclosure obligation on the funded party and arbitrators. Costs shifting rules are also needed to incentivize the disclosure. Al these depend on strengthening the reasoning of cost al ocation in arbitral awards and regulating arbitrators’ discretion.%第三方资助投资者在ICSID提起仲裁,近年来风行于欧美诸国并产业化。资助关系缺乏透明度、资助方与仲裁员间的复杂关系网络以及仲裁费用负担制度的不确定性,激励了投资者对东道国的滥诉,损及东道国公共利益和国际投资仲裁体制的正当性。为此,需要通过资助协议、国际投资协定来规定受资助方和仲裁员的强制披露义务,并通过仲裁费用负担制度激励投资者披露资助关系,而这又需要增强裁决中关于仲裁费用负担的说理性以规范仲裁员的裁量。
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